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176 Perry Street, #10S (Corcoran Group); Hugh Jackman (Paul Cush, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=17024435) 176 Perry Street, #10S (Corcoran Group); Hugh Jackman (Paul Cush, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=17024435)
From March 24-30, 2026, over 200 condos, co-ops, condops, and townhouses in core New York City areas experienced price reductions. These included a number of penthouses and luxury listings; however, the multi-million-dollar price cuts are not necessarily a sign of distress, but rather of high-end sellers trying to stay competitive with newer product.
These included three listings at Billionaires' Row supertall 432 Park Avenue, which was the tallest residential building in the world and in a luxurious class by itself when it opened in 2016. But in the years that followed, newer buildings with more expansive views, more sumptuous interiors, and better thought amenities would rise to steal its thunder. (The same can be said of Trump-branded condominiums, where four listings also experienced price reductions last week.)

In this article:

1 Beekman Place
1 Beekman Place Beekman/Sutton Place
St. James Tower, 415 East 54th Street
St. James Tower, 415 East 54th Street Beekman/Sutton Place
Hampton House, 28 East 70th Street
Hampton House, 28 East 70th Street Park/Fifth Ave. to 79th St.
Imperial House, 150 East 69th Street
Imperial House, 150 East 69th Street Lenox Hill
Trump Tower, 721 Fifth Avenue
Trump Tower, 721 Fifth Avenue Midtown East

432 Park Avenue, #66A (Corcoran Group)

Rendering of 262 Fifth Avenue courtesy of Hayes Davidson Rendering of 262 Fifth Avenue courtesy of Hayes Davidson
432 Park Avenue's newest competition is 262 Fifth Avenue, NoMad's tallest residential tower that has recently begun sales. Some New Yorkers are disappointed in how the skinny skyscraper developed by Five Points Development and designed by Meganom has blocked views of the Empire State Building as far as Lower Manhattan, but its 52-story, 860-foot height makes for spectacular open views of the Manhattan skyline for the 26 simplex and duplex residences inside. Apartments feature column-free interiors with luxurious finishes; and amenities will include a rooftop terrace with views to rival those on the nearby Empire State Building's observation deck.
262 Fifth Avenue construction Looking north up at 262 Fifth Avenue (early April 2026)



Last week's price cuts included Residence #12B at The Clarendon, which was once part of publishing magnate William Randolph Hearst's penthouse at the top of the building. In 1908, shortly after the 12-story building was completed, Mr. Hearst persuaded developer Ranald MacDonald to combine the top three floors into one massive apartment to accommodate his extensive collection of art and antiquities. But in 1938, in the wake of the Great Depression, the Mutual Life Insurance Company foreclosed on The Clarendon and proceeded to gut the building from top to bottom into smaller apartments. Most recently, Residence #12B was listed for $7.1 million in February 2026, and a price reduction brings it down to $6.495 million.
The Clarendon at 137 Riverside Drive

The Clarendon, #12B (Compass)

Richard Meier-designed 173 and 176 Perry Street, and 165 Charles Street Richard Meier-designed 173 and 176 Perry Street, and 165 Charles Street
Another notable reduction took place on Residence #10S at the Richard Meier-designed 176 Perry Street, the West Village home of Tony Award-winning actor/singer Hugh Jackman and his ex-wife, Deborra-Lee Furness. The couple first listed it for $38.9 million in June 2022, while they were still together, and bought a penthouse at the Jean Nouvel-designed 100 Eleventh Avenue a few months later. They sold the Chelsea penthouse in June 2025 amidst their divorce proceedings, and the West Village apartment is now back on the market for $28.75 million, which the New York Post describes as a more realistic read of the market for trophy units like this one.
The triplex features interiors by Mr. Meier, a living room with double-height ceilings, a full-floor primary suite with a home gym and private sauna, and private terraces on every floor. Public records show that the couple bought it for $21 million in November 2008.

176 Perry Street, #10S (Corcoran Group)

A selection of notable listings, as well as a full chart of last week's price cuts, may be seen below. Please be advised that all quoted figures reflect cumulative price cuts as opposed to the most recent reductions.



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Recently Reduced Listings


115 West Broadway, #4 (Corcoran Group)

Hampton House, #11/12 (Brown Harris Stevens Residential Sales LLC)

1050 Fifth Avenue, #PHB (Sothebys International Realty)

Greenwich West, #PH-C (ALIGNMENT RE LLC)

J Condominium, #PH (Archpoint Advisory)

262 West 25th Street, #TH (Serhant)

The Cass Gilbert, #18 (Corcoran Group)

Polhemus Residences, #PH1 (Serhant)

35 East 12th Street, #2AB (Christies International Real Estate Group LLC)

Imperial House, #3FX (Compass)

District, #PH111 (Serhant)

The Orson, #PH1 (Serhant)

The Endicott, #615/616 (Corcoran Group)

299 West 12th Street, #7F (Sothebys International Realty)

The Cheyney, #GLE (Corcoran Group)

50 Clinton Street, #3C (Corcoran Group)

25 West 15th Street, #3 (Compass)

Trump Tower, #32H (Keller Williams NYC)

Stella Tower, #12K (Douglas Elliman Real Estate)

St. James Tower, #6D (Compass)

30 Fifth Avenue, #3B (Corcoran Group)

Sheffield 57, #39U (Manhattan Miami Real Estate LLC)

Astor Court, #PH8 (Compass)

The Sandstone, #1 (Compass)

One Beekman, #705 (Brown Harris Stevens Residential Sales LLC)

Park Gramercy, #5E (Compass)

116 West 76th Street, #5R (Corcoran Group)

The Sussex, #10D (Corcoran Group)

Would you like to tour any of these properties?
Just complete the info below.
  1. Select which properties are of interest to you:

Or call us at (212) 755-5544
Would you like to tour any of these properties?